Friday 15 May 2015

Top corporate news of the day - May 15, 2015

State bank of India will resume mega e-auction for properties, acquired from borrowers following defaults, next month. 

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Making its third diversification from its core technology business, HCL Corporation forayed into the business of skilling by launching HCL TalentCare 

Tata Group flagship company Tata Steel announced Rs65bn goodwill impairment charge for the loss of value of operations in Europe, Canada and Mozambique in 2014-15. 

Country's largest lender State bank of India will resume mega e-auction for properties, acquired from borrowers following defaults, next month.

Enterprise software provider Ramco Systems has launched its payroll software in China, to address the Chinese market with unified bilingual platform. 

India's state-run National Buildings Construction Corp (NBCC) is betting on the redevelopment of millions of square feet of vacant government property as it plans to grow its USD3.4bn order book by 25% a year to 2020. 

The Supreme Court dismissed a batch of petitions filed by various telecom companies, including Vodafone and Bharti Airtel, seeking extension of their spectrum licences. 

State-run Power Grid will invest over Rs10bn in the next few years for execution of two projects including creating transmission network in Anantpur district of Andhra Pradesh 

Tata Motors’ UK subsidiary Jaguar Land Rover Automotive Plc has reported its strongest-ever April retail sales performance as the company sold 37,286 units. The luxury carmaker reported 0.3% YoY  rise in sales from 37,171 units a year ago.

Reliance Industries is in talks with Chinese manufacturers to secure cut-price phones that could be sold in packages from USD30, as it seeks to repeat the low-cost revolution it unleashed with its first dip into India's mobile market more than a decade ago. 

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